Faroe Petroleum’s (LON:FPM) Buy Rating Reaffirmed at Jefferies Group

Jefferies Group reissued their buy rating on shares of Faroe Petroleum (LON:FPM) in a research report report published on Wednesday, December 20th. The firm currently has a GBX 125 ($1.70) price objective on the oil and gas exploration company’s stock.

A number of other equities analysts have also weighed in on the stock. Barclays reiterated an overweight rating and issued a GBX 110 ($1.49) price objective on shares of Faroe Petroleum in a research report on Wednesday, November 22nd. Peel Hunt restated a buy rating and set a GBX 115 ($1.56) target price on shares of Faroe Petroleum in a research report on Tuesday, September 12th. Finally, Macquarie boosted their target price on shares of Faroe Petroleum from GBX 114 ($1.55) to GBX 120 ($1.63) and gave the stock an outperform rating in a research report on Tuesday, September 12th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of GBX 119 ($1.61).

Shares of Faroe Petroleum (LON FPM) traded up GBX 3.80 ($0.05) during mid-day trading on Wednesday, reaching GBX 113.60 ($1.54). 982,091 shares of the company’s stock traded hands, compared to its average volume of 402,366. The stock has a market capitalization of $413.57 and a price-to-earnings ratio of -1,893.33. Faroe Petroleum has a one year low of GBX 74.50 ($1.01) and a one year high of GBX 115 ($1.56).

In other Faroe Petroleum news, insider Graham Stewart bought 367 shares of the company’s stock in a transaction that occurred on Wednesday, January 3rd. The stock was purchased at an average price of GBX 102 ($1.38) per share, with a total value of £374.34 ($507.65).

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About Faroe Petroleum

Faroe Petroleum plc is an oil and gas company. The Company is focused on exploration, appraisal and production opportunities in Norway and the United Kingdom. Its portfolio consists of approximately 60 exploration, appraisal, development and production licenses in the West of Shetland, the North Sea, Norwegian Sea, Barents Sea and the Celtic Sea.

Analyst Recommendations for Faroe Petroleum (LON:FPM)

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